Bitcoin sees popularity grow with online gambling influence

There have been many changes and technological advances in the online gambling industry over the past few years but the introduction of Bitcoin may be the biggest recent change. The growth in popularity of the online currency has seen the inevitable introduction of digital currency gambling, offering betting fans the chance to securely transfer their funds without having to involve the traditional banking system.

Bitcoin has fast become one of the most trusted way of using cyber currency in recent years, overcoming a sticky start to life that saw links with dubious websites and security flaws to establish itself as a serious player in online currency. Since its introduction in 2009, the crypto-currency has been a genuine alternative payment system to the traditional paper currencies controlled by the central banks and governments.

While there have been fears over the limits of bitcoin due to the fixed supply which restricts growth, the fact is that the underlying technology has the potential to change the online payment system so that all current faults can be eradicated and the unlimited growth of the currency can occur.

Bitcoin's future is still a debated subject, the open-source software that is the basis of the money has been responsible for the birth of hundreds of other digital currencies across the internet. While bitcoin currently occupies about 90% of the virtual currency market, there are an estimated 270 digital currencies being used, many of which used solely on specific products or services.

Online gambling is one of the businesses which has continued to flourish, however, with bitcoin currently floating around $564.00 USD. Much of this is down to the popularity of sites such as Betcoin, which offer online casino fans all the games they love to play but with the benefits that come with using digital rather than traditional currency.

With games such as roulette, blackjack and slot reels, online gambling fans can now receive their winning pay-outs significantly quicker than they do with the majority of online casinos. With the added peace of mind that comes with using Bitcoin rather than traditional currency, it’s little surprise to see. As well as the continued popularity of online casinos with the digital currency community, online poker has now joined the Bitcoin party, with players taking advantage of the instant pay-outs rather than having to wait days and weeks to get their hands on their winnings.